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Fiscal Policy and Development
			: Human, Social, and Physical Investments for the SDGs

Fiscal Policy and Development : Human, Social, and Physical Investments for the SDGs »

Volume/Issue: 2019/3

Series: Staff Discussion Notes

Author(s): Vitor Gaspar , David Amaglobeli , Mercedes Garcia-Escribano , Delphine Prady , and Mauricio Soto

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 January 2019

DOI: http://dx.doi.org/10.5089/9781484388914.006

ISBN: 9781484388914

Keywords: Sustainable development, Foreign aid, Sustainable Development Goals (SDG), Development, Fiscal policy, Sustainable Development Goals; Fiscal Policy, Sustainable Development Goals, Structure and Scope of Government, General, International Fiscal Issues

The goal of this paper is to estimate the additional annual spending required for meaningful progress on the SDGs in these areas. Our estimates refer to additional spending in 2030, relative to a baseline of curren...

Work In Progress
			: Improving Youth Labor Market Outcomes in Emerging Market and Developing Economies

Work In Progress : Improving Youth Labor Market Outcomes in Emerging Market and Developing Economies »

Volume/Issue: 2019/2

Series: Staff Discussion Notes

Author(s): JaeBin Ahn , Zidong An , John Bluedorn , Gabriele Ciminelli , Zsoka Koczan , Davide Malacrino , Daniela Muhaj , and Patricia Neidlinger

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 January 2019

DOI: http://dx.doi.org/10.5089/9781484393901.006

ISBN: 9781484393901

Keywords: Labor market reforms, Labor markets, Fiscal reforms, Product markets, Population, Emerging markets, Developing countries, Youth labor markets; emerging market and developing economies; Okun's law; labor and product market institutions; structural reforms, youth labor markets, emerging market and developing economies

Economic development and growth depend on a country's young people. With most of their working life ahead of them they make up about a third of the working-age population in the typical emerging market and developi...

The Future of Saving
			: The Role of Pension System Design in an Aging World

The Future of Saving : The Role of Pension System Design in an Aging World »

Volume/Issue: 2019/1

Series: Staff Discussion Notes

Author(s): David Amaglobeli , Hua Chai , Era Dabla-Norris , Kamil Dybczak , Mauricio Soto , and Alexander Tieman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 January 2019

DOI: http://dx.doi.org/10.5089/9781484388990.006

ISBN: 9781484388990

Keywords: Aging, Savings, Demographic transition, Old age pensions, Aging; Demographics; Saving; Pension Spending, Demographics, Saving, Pension Spending, Demographic Trends and Forecasts, General

This SDN explores how demographic changes have affected and will affect public and private sector savings, highlighting the interaction between pension systems, labor markets, and demographic variables....

Second-Generation Fiscal Rules
			: Balancing Simplicity, Flexibility, and Enforceability

Second-Generation Fiscal Rules : Balancing Simplicity, Flexibility, and Enforceability »

Volume/Issue: 2018/4

Series: Staff Discussion Notes

Author(s): Luc Eyraud , Xavier Debrun , Andrew Hodge , Victor Lledo , and Catherine Pattillo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

DOI: http://dx.doi.org/10.5089/9781484350683.006

ISBN: 9781484350683

Keywords: Debt, Fiscal policy, Fiscal rules, deficit bias, fiscal governance, Structure and Scope of Government, Deficit

Fiscal rule frameworks have evolved significantly in response to the global financial crisis. Many countries have reformed their fiscal rules or introduced new ones with a view to enhancing the credibility of fisca...

A Central Fiscal Stabilization Capacity for the Euro Area

A Central Fiscal Stabilization Capacity for the Euro Area »

Volume/Issue: 2018/3

Series: Staff Discussion Notes

Author(s): Nathaniel Arnold , Bergljot Barkbu , H. Elif Ture , Hou Wang , and Jiaxiong Yao

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 March 2018

DOI: http://dx.doi.org/10.5089/9781484348178.006

ISBN: 9781484348178

Keywords: Euro Area, Fiscal policy, Euro Area; Fiscal Integration; Macroeconomic Stabilization; Central fiscal capacity; Fiscal policy; Macroeconomic policy mix; Fiscal union;, Fiscal Integration, Macroeconomic Stabilization

This note outlines a concrete proposal for a euro area central fiscal capacity (CFC) that could help smooth both country-specific and common shocks. Specifically, it proposes a macroeconomic stabilization fund fina...

Trade-offs in Bank Resolution

Trade-offs in Bank Resolution »

Volume/Issue: 2018/2

Series: Staff Discussion Notes

Author(s): Giovanni Dell'Ariccia , Maria Martinez Peria , Deniz Igan , Elsie Addo Awadzi , Marc Dobler , and Damiano Sandri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 February 2018

DOI: http://dx.doi.org/10.5089/9781484341001.006

ISBN: 9781484341001

Keywords: Spillovers, Bank bailouts, bank insolvency, bail-outs, bail-ins, larger capital buffers, Bank resolution, Financial regulation

This SDN revisits the debate on bank resolution regimes, first by presenting a simple model of bank insolvency that transparently describes the trade-off involved between bail-outs, bail-ins, and larger capital buf...

Inequality and Poverty across Generations in the European Union

Inequality and Poverty across Generations in the European Union »

Volume/Issue: 2018/1

Series: Staff Discussion Notes

Author(s): Tingyun Chen , Jean-Jacques Hallaert , Alexander Pitt , Haonan Qu , Maximilien Queyranne , Alaina Rhee , Anna Shabunina , Jérôme Vandenbussche , and Irene Yackovlev

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 January 2018

DOI: http://dx.doi.org/10.5089/9781484338445.006

ISBN: 9781484338445

Keywords: Fiscal policy, Labor market policy, Labor policy, Income inequality, Poverty and inequality, Inequality, Poverty, Europe, Redistribution

This SDN studies the evolution of inequality across age groups leading up to and since the global financial crisis, as well as implications for fiscal and labor policies. Europe's population is aging, child and you...

Big Data
			: Potential, Challenges and Statistical Implications

Big Data : Potential, Challenges and Statistical Implications »

Volume/Issue: 2017/6

Series: Staff Discussion Notes

Author(s): Cornelia Hammer , Diane Kostroch , and Gabriel Quiros

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 September 2017

DOI: http://dx.doi.org/10.5089/9781484310908.006

ISBN: 9781484310908

Keywords: Surveillance, Big Data, Macroeconomic and Financial Statistics, Official Statistics, Data Quality, General, Institutions and the Macroeconomy, Introductory Material

Big data are part of a paradigm shift that is significantly transforming statistical agencies, processes, and data analysis. While administrative and satellite data are already well established, the statistical com...

Fintech and Financial Services
			: Initial Considerations

Fintech and Financial Services : Initial Considerations »

Volume/Issue: 2017/5

Series: Staff Discussion Notes

Author(s): Dong He , Ross Leckow , Vikram Haksar , Tommaso Mancini Griffoli , Nigel Jenkinson , Mikari Kashima , Tanai Khiaonarong , Celine Rochon , and Hervé Tourpe

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 June 2017

DOI: http://dx.doi.org/10.5089/9781484303771.006

ISBN: 9781484303771

Keywords: Central banks, Financial sector, International cooperation, Fintech, cross border payments, market structure, financial regulation, financial stability, monetary policy, virtual currencies

A new wave of technological innovations, often called 'fintech,' is accelerating change in the financial sector. What impact might fintech have on financial services, and how should regulation respond? This paper s...

Gone with the Headwinds
			: Global Productivity

Gone with the Headwinds : Global Productivity »

Volume/Issue: 2017/4

Series: Staff Discussion Notes

Author(s): Gustavo Adler , Romain Duval , Davide Furceri , Sinem K?l?ç Çelik , Ksenia Koloskova , and Marcos Poplawski-Ribeiro

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 April 2017

DOI: http://dx.doi.org/10.5089/9781475589672.006

ISBN: 9781475589672

Keywords: Labor productivity, Total factor productivity, Economic growth, Financial crisis, Fiscal policy, Labor Productivity, Total factor Productivity, Growth

Productivity growth-the key driver of living standards-fell sharply following the global financial crisis and has remained sluggish since, adding to a slowdown already in train before. Building on new research, thi...

Labor and Product Market Reforms in Advanced Economies
			: Fiscal Costs, Gains, and Support

Labor and Product Market Reforms in Advanced Economies : Fiscal Costs, Gains, and Support »

Volume/Issue: 2017/3

Series: Staff Discussion Notes

Author(s): Angana Banerji , Valerio Crispolti , Era Dabla-Norris , Romain Duval , Christian Ebeke , Davide Furceri , Takuji Komatsuzaki , and Tigran Poghosyan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 March 2017

DOI: http://dx.doi.org/10.5089/9781475583977.006

ISBN: 9781475583977

Keywords: Business cycles, Developed countries, Employment, Fiscal policy, Fiscal reforms, Labor market reforms, Legislation, Fiscal Policy; Structural Reforms; Public Debt; Labor Market; Product Market; Deregulation; Employment Protection; Unemployment Benefits; Labor Tax; Active Labor Market Policy, Structural Reforms, Public Debt

Product and labor market reforms are needed to lift persistently sluggish growth in advanced economies. But reforms have progressed slowly because of concerns about their distributive and short-term economic effect...

Measure up
			: A Better Way to Calculate GDP

Measure up : A Better Way to Calculate GDP »

Volume/Issue: 2017/2

Series: Staff Discussion Notes

Author(s): Thomas Alexander , Claudia Dziobek , Marco Marini , Eric Metreau , and Michael Stanger

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 February 2017

DOI: http://dx.doi.org/10.5089/9781475572605.006

ISBN: 9781475572605

Keywords: GDP at constant prices, GDP deflator, G20 Data Gaps Initiative, single and double deflation, China, India

To derive real GDP, the System of National Accounts 2008 (2008 SNA) recommends a technique called double deflation. Some countries use single deflation techniques, which fail to capture important relative price cha...

Macro-Structural Policies and Income Inequality in Low-Income Developing Countries

Macro-Structural Policies and Income Inequality in Low-Income Developing Countries »

Volume/Issue: 2017/1

Series: Staff Discussion Notes

Author(s): Stefania Fabrizio , Davide Furceri , Rodrigo Garcia-Verdu , Bin Grace Li , Sandra Lizarazo Ruiz , Marina Mendes Tavares , Futoshi Narita , and Adrian Peralta-Alva

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 January 2017

DOI: http://dx.doi.org/10.5089/9781475566222.006

ISBN: 9781475566222

Keywords: Economic growth, Economic indicators, Fiscal reforms, Fiscal policy, Financial sector, Agricultural sector, Low-income developing countries, Resource mobilization, Social indicators, Financial sector reform

Despite sustained economic growth and rapid poverty reductions, income inequality remains stubbornly high in many low-income developing countries. This pattern is a concern as high levels of inequality can impair t...

Macroeconomic Management When Policy Space is Constrained
			: A Comprehensive, Consistent and Coordinated Approach to Economic Policy

Macroeconomic Management When Policy Space is Constrained : A Comprehensive, Consistent and Coordinated Approach to Economic Policy »

Volume/Issue: 2016/9

Series: Staff Discussion Notes

Author(s): Vitor Gaspar , Maurice Obstfeld , Ratna Sahay , Douglas Laxton , Dennis Botman , Kevin Clinton , Romain Duval , Kotaro Ishi , Zoltan Jakab , Laura Jaramillo , Constant Lonkeng Ngouana , Tommaso Mancini Griffoli , Joannes Mongardini , Susanna Mursula , Erlend Nier , Yulia Ustyugova , Hou Wang , and Oliver Wuensch

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 September 2016

DOI: http://dx.doi.org/10.5089/9781475537543.006

ISBN: 9781475537543

Keywords: Banks, Canada, Developed countries, Economic policy, Fiscal policy, Financial sector, Fiscal reforms, Incomes policy, Japan, Monetary policy

The recovery in GDP growth since the global financial crisis has been halting and weak. Concern is widespread that countercyclical policies have run out of space or lack the power to raise growth or deal with the n...

The Economic Impact of Conflicts and the Refugee Crisis in the Middle East and North Africa

The Economic Impact of Conflicts and the Refugee Crisis in the Middle East and North Africa »

Volume/Issue: 2016/8

Series: Staff Discussion Notes

Author(s): Bjoern Rother , Gaelle Pierre , Davide Lombardo , Risto Herrala , Priscilla Toffano , Erik Roos , Allan Auclair , and Karina Manasseh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 September 2016

DOI: http://dx.doi.org/10.5089/9781475535785.006

ISBN: 9781475535785

Keywords: Migrations, Middle East, North Africa, Regional shocks, Spillovers, Development financing, Economic policy, Development assistance, Middle East and North Africa, conflicts

In recent decades, the Middle East and North Africa region (MENA) has experienced more frequent and severe conflicts than in any other region of the world, exacting a devastating human toll. The region now faces un...

Emigration and Its Economic Impact on Eastern Europe

Emigration and Its Economic Impact on Eastern Europe »

Volume/Issue: 2016/7

Series: Staff Discussion Notes

Author(s): Ruben Atoyan , Lone Engbo Christiansen , Allan Dizioli , Christian Ebeke , Nadeem Ilahi , Anna Ilyina , Gil Mehrez , Haonan Qu , Faezeh Raei , Alaina Rhee , and Daria Zakharova

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 July 2016

DOI: http://dx.doi.org/10.5089/9781475576368.006

ISBN: 9781475576368

Keywords: Emigration and immigration, Central and Eastern Europe, Private sector, Global competitiveness, Skilled labor, Remittances, Income, Economic growth, Gross domestic product, Emigration

This paper analyses the impact of large and persistent emigration from Eastern European countries over the past 25 years on these countries' growth and income convergence to advanced Europe. While emigration has li...

The Withdrawal of Correspondent Banking Relationships
			: A Case for Policy Action

The Withdrawal of Correspondent Banking Relationships : A Case for Policy Action »

Volume/Issue: 2016/6

Series: Staff Discussion Notes

Author(s): Michaela Erbenova , Yan Liu , Nadim Kyriakos-Saad , Aledjandro Lopez Mejia , Jose Gasha , Emmanuel Mathias , Mohamed Norat , Francisca Fernando , and Yasmin Almeida

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 June 2016

DOI: http://dx.doi.org/10.5089/9781498375092.006

ISBN: 9781498375092

Keywords: Cross-border banking, Payment systems, International banks, Anti-money laundering, Combating the financing of terrorism, Bank supervision, Bank regulations, Risk management, Fund role, Correspondent Banking

This paper focuses on the withdrawal of correspondent banking relationships (CBRs) in some jurisdictions post-global financial crisis. It describes existing evidence and consequences of the withdrawal of CBRs and e...

Corruption
			: Costs and Mitigating Strategies

Corruption : Costs and Mitigating Strategies »

Volume/Issue: 2016/5

Series: Staff Discussion Notes

Author(s): International Monetary Fund. Fiscal Affairs Dept.;International Monetary Fund. Legal Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 May 2016

DOI: http://dx.doi.org/10.5089/9781513594330.006

ISBN: 9781513594330

Keywords: Corruption, Governance, Tax revenues, Inclusive growth, Government expenditures, Public investments, Private investments, Human capital, Fund role, Corruption

In an environment in which growth and employment prospects in many countries remain subdued and a number of high-profile corruption cases have fueled moral outrage, and amid a growing consensus that corruption can...

Fair Taxation in the Middle East and North Africa

Fair Taxation in the Middle East and North Africa »

Volume/Issue: 2015/16

Series: Staff Discussion Notes

Author(s): Mario Mansour , Pritha Mitra , Carlo Sdralevich , and Andrew Jewell

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 September 2015

Language: Arabic

DOI: http://dx.doi.org/10.5089/9781513552255.006

ISBN: 9781513552255

Keywords: Resource Revenues, Excise, Value-Added Tax, Equity, tax, taxes, Justice, Inequality, and Other Normative Criteria and Measurement, International Relations and International Political Economy: Other

Fairness - and what governments can do about it - is at the forefront of economic and social debate all over the world. In MENA, this has been at the core of recent political transitions but has not been adequately...

Distribución directa de los ingresos provenientes de recursos naturales
			: ¿vale la pena considerarla?

Distribución directa de los ingresos provenientes de recursos naturales : ¿vale la pena considerarla? »

Volume/Issue: 2014/5

Series: Staff Discussion Notes

Author(s): Sanjeev Gupta , Alex Segura-Ubiergo , and Enrique Flores

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 August 2015

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781513592626.006

ISBN: 9781513592626

Keywords: Recursos naturales, Ingreso, Distribución del ingreso, Política fiscal

Algunos académicos han sostenido que la distribución directa a la población de ingresos públicos provenientes de recursos naturales ayudaría a los países ricos en recursos naturales a escapar de la 'maldición de l...

Rethinking Financial Deepening
			: Stability and Growth in Emerging Markets

Rethinking Financial Deepening : Stability and Growth in Emerging Markets »

Volume/Issue: 2015/8

Series: Staff Discussion Notes

Author(s): Ratna Sahay , Martin Cihak , Papa N'Diaye , Adolfo Barajas , Diana Ayala Pena , Ran Bi , Yuan Gao , Annette Kyobe , Lam Nguyen , Christian Saborowski , Katsiaryna Svirydzenka , and Reza Yousefi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 May 2015

DOI: http://dx.doi.org/10.5089/9781498312615.006

ISBN: 9781498312615

Keywords: Economic growth, Emerging markets, Financial stability, financial development, financial deepening, financial inclusion, finance, General, Government Policy and Regulation, Estabilidad financiera; Crecimiento económico; Desarrollo del mercado de capitales; Acceso a los mercados de capitales; Mercados emergentes

The global financial crisis experience shone a spotlight on the dangers of financial systems that have grown too big too fast. This note reexamines financial deepening, focusing on what emerging markets can learn f...

Política fiscal en América Latina
			: Lecciones y legados de la crisis financiera mundial

Política fiscal en América Latina : Lecciones y legados de la crisis financiera mundial »

Volume/Issue: 2015/6

Series: Staff Discussion Notes

Author(s): Oya Celasun , Francesco Grigoli , Keiko Honjo , Javier Kapsoli , Alexander Klemm , Bogdan Lissovolik , Jan Luksic , Marialuz Moreno Badia , Joana Pereira , Marcos Poplawski-Ribeiro , Baoping Shang , and Yulia Ustyugova

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 April 2015

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781513567792.006

ISBN: 9781513567792

Keywords: política fiscal, América Latina, gasto público, normas e instituciones fiscales, crisis financiera mundial 2008-2009

La reacción audaz que tuvo la política fiscal de América Latina ante la crisis financiera mundial fue tomada como una señal de que la región finalmente había superado su pasado fiscal pro-cíclico. Sin embargo, la m...

Regional Economic Outlook, April 2015,  Sub-Saharan Africa
			: Navigating Headwinds

Regional Economic Outlook, April 2015, Sub-Saharan Africa : Navigating Headwinds »

Series: Regional Economic Outlook

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 April 2015

DOI: http://dx.doi.org/10.5089/9781498329842.086

ISBN: 9781498329842

Keywords: trade, income, exchange, prices, gdp

The sharp decline in oil and other commodity prices have adversely impacted sub-Saharan Africa. Nevertheless, the region is projected to register another year of solid economic performance. In South Africa, however...

World Economic Outlook, April 2015
			: Uneven Growth

World Economic Outlook, April 2015 : Uneven Growth »

Series: World Economic Outlook

Author(s): International Monetary Fund. Research Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 April 2015

DOI: http://dx.doi.org/10.5089/9781498378000.081

ISBN: 9781498378000

Keywords: investment, prices, productivity, output, advanced economies

Global growth remains moderate and uneven, and a number of complex forces are shaping the outlook. These include medium- and long-term trends, global shocks, and many country- or region-specific factors. The April...

Fair Play
			: More Equal Laws Boost Female Labor Force Participation

Fair Play : More Equal Laws Boost Female Labor Force Participation »

Volume/Issue: 2015/2

Series: Staff Discussion Notes

Author(s): Christian Gonzales , Sonali Jain-Chandra , Kalpana Kochhar , and Monique Newiak

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 February 2015

DOI: http://dx.doi.org/10.5089/9781498354424.006

ISBN: 9781498354424

Keywords: Labor force participation, Gender equality, Women, female labor force participation, gender equity, legal rights, gender, labor force, female labor, Participación en la fuerza laboral;Mujeres;Igualdad de género;Mercados de trabajo;Reformas del mercado laboral;Aspectos económicos de la familia;Análisis entre países

This Staff Discussion Note examines the effect of gender-based legal restrictions and other policy choices and demographic characteristics on female labor force participation. Drawing on a large and novel panel dat...

Juego limpio
			: Leyes más equitativas fomentan la participación femenina en la fuerza laboral

Juego limpio : Leyes más equitativas fomentan la participación femenina en la fuerza laboral »

Volume/Issue: 2015/2

Series: Staff Discussion Notes

Author(s): Christian Gonzales , Sonali Jain-Chandra , Kalpana Kochhar , and Monique Newiak

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 February 2015

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781513573564.006

ISBN: 9781513573564

Keywords: Participación en la fuerza laboral, Mujeres, Igualdad de género,Mercados de trabajo, Reformas del mercado laboral, Aspectos económicos de la familia, Análisis entre países

En este Documento de Análisis del Personal Técnico se estudia el efecto de las restricciones legales basadas en el género y de las políticas públicas y las características demográficas en la participación femenina...

Making the Most of Public Investment in MENA and CCA Oil-Exporting Countries

Making the Most of Public Investment in MENA and CCA Oil-Exporting Countries »

Volume/Issue: 2014/10

Series: Staff Discussion Notes

Author(s): Maria Albino-War , Svetlana Cerovic , Francesco Grigoli , Juan Flores , Javier Kapsoli , Haonan Qu , Yahia Said , Bahrom Shukurov , Martin Sommer , and SeokHyun Yoon

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2014

Language: Arabic

DOI: http://dx.doi.org/10.5089/9781498314954.006

ISBN: 9781498314954

Keywords: Public investment, Middle East and Central Asia, North Africa, Central Asia and the Caucasus, Expenditure efficiency, Infrastructure, Transportation, Oil exporting countries, Public investment efficiency, natural resources

Over the past decade, rising oil prices have translated into high levels of public investment in most MENA and CCA oil exporters. This has prompted questions about the efficiency of public investment in generating...

Regional Economic Outlook, October 2014
			: Staying the Course

Regional Economic Outlook, October 2014 : Staying the Course »

Series: Regional Economic Outlook

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 October 2014

DOI: http://dx.doi.org/10.5089/9781498386456.086

ISBN: 9781498386456

Keywords: Economic growth, Economic forecasting, Cross country analysis, Private investment, Regional Economic Outlook, Public debt, Public investment, Fiscal policy, Monetary policy, Infrastructure

Growth in much of Sub-Saharan Africa is expected to remain strong, driven by efforts to invest in infrastructure and strong agricultural production. The current Ebola outbreak in Guinea, Liberia, and Sierra Leone i...

Emerging Market Volatility
			: Lessons from The Taper Tantrum

Emerging Market Volatility : Lessons from The Taper Tantrum »

Volume/Issue: 2014/9

Series: Staff Discussion Notes

Author(s): Ratna Sahay , Vivek Arora , Athanasios Arvanitis , Hamid Faruqee , Papa N'Diaye , and Tommaso Mancini Griffoli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 October 2014

DOI: http://dx.doi.org/10.5089/9781498318204.006

ISBN: 9781498318204

Keywords: Monetary policy, Emerging markets, United States, Capital flows, Financial markets, Capital market volatility, Macroprudential Policy, Developed countries, Tapering, unconventional monetary policy

Accommodative monetary policies in advanced economies have spurred increased capital inflows into emerging markets since the global financial crisis. Starting in May 2013, when the Federal Reserve publicly discusse...

Volatilidad en los mercados emergentes
			: Lecciones de mayo de 2013

Volatilidad en los mercados emergentes : Lecciones de mayo de 2013 »

Volume/Issue: 2014/9

Series: Staff Discussion Notes

Author(s): Ratna Sahay , Vivek Arora , Athanasios Arvanitis , Hamid Faruqee , Papa N'Diaye , and Tommaso Mancini Griffoli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 October 2014

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781513534459.006

ISBN: 9781513534459

Keywords: Mercados emergentes, volatilidad de los mercados de capital internacionales, flujos de capital, política monetaria, política macroprudencial, Estados Unidos, países desarrollados

Las políticas monetarias acomodaticias de las economías avanzadas han estimulado la entrada de capitales en los mercados emergentes desde la crisis financiera internacional. En un episodio que comenzó en mayo de 20...

Monetary Policy in the New Normal

Monetary Policy in the New Normal »

Volume/Issue: 2014/3

Series: Staff Discussion Notes

Author(s): Tamim Bayoumi , Giovanni Dell'Ariccia , Karl Habermeier , Tommaso Mancini Griffoli , and Fabian Valencia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 April 2014

Language: Chinese

DOI: http://dx.doi.org/10.5089/9781484354995.006

ISBN: 9781484354995

Keywords: Monetary policy, Central banks, Central bank autonomy, Macroprudential Policy, Financial stability, Cross country analysis, Monetary Policy, Financial Stability, Central Bank Independence

The proposed SDN would take stock of the current debate on the shape that monetary policy should take after the crisis. It revisits the pros and cons of expanding the objectives of monetary policy, the merits of tu...

Algeria
			: Staff Report for the 2013 Article IV Consultation

Algeria : Staff Report for the 2013 Article IV Consultation »

Volume/Issue: 2014/32

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 February 2014

DOI: http://dx.doi.org/10.5089/9781475566215.002

ISBN: 9781475566215

Keywords: Fiscal consolidation, Economic indicators, Debt sustainability analysis, Algeria, Economic growth, Article IV consultation reports, Press releases, Real effective exchange rates, Staff Reports, Monetary policy

This Informational Annex highlights that data provision in Algeria has some shortcomings, but is broadly adequate for surveillance. Data are published with a delay of less than one month. Key shortcomings in govern...

Obstacles to International Policy Coordination, and How to Overcome Them

Obstacles to International Policy Coordination, and How to Overcome Them »

Volume/Issue: 2013/11

Series: Staff Discussion Notes

Author(s): Jonathan Ostry , and Atish Ghosh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 December 2013

DOI: http://dx.doi.org/10.5089/9781484334188.006

ISBN: 9781484334188

Keywords: Welfare, International cooperation, Economic policy, Policy Coordination, Uncertainty, Guideposts

In bilateral and multilateral surveillance, countries are often urged to consider alternative policies that would result in superior outcomes for the country itself and, perhaps serendipitously, for the world econo...

La mujer, el trabajo y la economía: Ventajas macroeconómicas de la igualdad de género

La mujer, el trabajo y la economía: Ventajas macroeconómicas de la igualdad de género »

Volume/Issue: 2013/10

Series: Staff Discussion Notes

Author(s): Katrin Elborgh-Woytek , Monique Newiak , Kalpana Kochhar , Stefania Fabrizio , Kangni Kpodar , Philippe Wingender , Benedict Clements , and Gerd Schwartz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 October 2013

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781484346556.006

ISBN: 9781484346556

Keywords: Gender equality, Fiscal policy, Employment, Emerging markets, Developed countries, Labor markets, Women, igualdad de género, política fiscal, empleo

En el Documento de Análisis del Personal Técnico (SDN) propuesto se analizan aspectos específicos de importancia crítica desde el punto de vista macroeconómico acerca de la participación de la mujer en el mercado l...

Women, Work, and the Economy:Macroeconomic Gains from Gender Equity

Women, Work, and the Economy:Macroeconomic Gains from Gender Equity »

Volume/Issue: 2013/10

Series: Staff Discussion Notes

Author(s): Katrin Elborgh-Woytek , Monique Newiak , Kalpana Kochhar , Stefania Fabrizio , Kangni Kpodar , Philippe Wingender , Benedict Clements , and Gerd Schwartz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 October 2013

Language: Russian

DOI: http://dx.doi.org/10.5089/9781484341483.006

ISBN: 9781484341483

Keywords: Women, Labor markets, Gender equality, Employment, Fiscal policy, Developed countries, Emerging markets

The proposed SDN discusses the specific macro-critical aspects of women's participation in the labor market and the constraints that prevent women from developing their full economic potential. Building on earlier...

Women, Work, and the Economy:Macroeconomic Gains from Gender Equity

Women, Work, and the Economy:Macroeconomic Gains from Gender Equity »

Volume/Issue: 2013/10

Series: Staff Discussion Notes

Author(s): Katrin Elborgh-Woytek , Monique Newiak , Kalpana Kochhar , Stefania Fabrizio , Kangni Kpodar , Philippe Wingender , Benedict Clements , and Gerd Schwartz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 October 2013

Language: Japanese

DOI: http://dx.doi.org/10.5089/9781484322888.006

ISBN: 9781484322888

Keywords: Women, Labor markets, Gender equality, Employment, Fiscal policy, Developed countries, Emerging markets

The proposed SDN discusses the specific macro-critical aspects of women's participation in the labor market and the constraints that prevent women from developing their full economic potential. Building on earlier...

Women, Work, and the Economy:Macroeconomic Gains from Gender Equity

Women, Work, and the Economy:Macroeconomic Gains from Gender Equity »

Volume/Issue: 2013/10

Series: Staff Discussion Notes

Author(s): Katrin Elborgh-Woytek , Monique Newiak , Kalpana Kochhar , Stefania Fabrizio , Kangni Kpodar , Philippe Wingender , Benedict Clements , and Gerd Schwartz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 October 2013

Language: Arabic

DOI: http://dx.doi.org/10.5089/9781484334645.006

ISBN: 9781484334645

Keywords: Women, Labor markets, Gender equality, Employment, Fiscal policy, Developed countries, Emerging markets

The proposed SDN discusses the specific macro-critical aspects of women's participation in the labor market and the constraints that prevent women from developing their full economic potential. Building on earlier...

Women, Work, and the Economy:Macroeconomic Gains from Gender Equity

Women, Work, and the Economy:Macroeconomic Gains from Gender Equity »

Volume/Issue: 2013/10

Series: Staff Discussion Notes

Author(s): Katrin Elborgh-Woytek , Monique Newiak , Kalpana Kochhar , Stefania Fabrizio , Kangni Kpodar , Philippe Wingender , Benedict Clements , and Gerd Schwartz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 October 2013

Language: Chinese

DOI: http://dx.doi.org/10.5089/9781484339725.006

ISBN: 9781484339725

Keywords: Women, Labor markets, Gender equality, Employment, Fiscal policy, Developed countries, Emerging markets

The proposed SDN discusses the specific macro-critical aspects of women's participation in the labor market and the constraints that prevent women from developing their full economic potential. Building on earlier...

Políticas macroprudencial y microprudencial
			: Hacia la cohabitación

Políticas macroprudencial y microprudencial : Hacia la cohabitación »

Volume/Issue: 2013/5

Series: Staff Discussion Notes

Author(s): Jacek Osinski , Katharine Seal , and Lex Hoogduin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 June 2013

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781498332941.006

ISBN: 9781498332941

Keywords: Macroprudential Policy, Financial systems, Financial institutions, Banks, Bank supervision, Financial stability, Business cycles, política microprudencial, ciclo financiero, riesgo sistémico

En todos los países, emergentes y avanzados, se requieren mecanismos eficaces para aplicar políticas micro y macroprudenciales a fin de promover la estabilidad financiera global. Ambas políticas se complementan mut...

Repensar la política macroeconómica II
			: Ir a los detalles

Repensar la política macroeconómica II : Ir a los detalles »

Volume/Issue: 2013/3

Series: Staff Discussion Notes

Author(s): Olivier Blanchard , Giovanni Dell'Ariccia , and Paolo Mauro

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 April 2013

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781484372302.006

ISBN: 9781484372302

Keywords: Monetary policy, Central banks, Inflation targeting, Liquidity, Interest rates, Capital flows, Fiscal policy, Public debt, Fiscal consolidation, Macroprudential Policy

En esta nota se examina cómo ha evolucionado el pensamiento económico con respecto a la gestión macroeconómica desde que se inició la crisis. Se analizan la evolución de la política monetaria, en particular las med...

Income Inequality and Fiscal Policy (2nd Edition)

Income Inequality and Fiscal Policy (2nd Edition) »

Volume/Issue: 2012/8R

Series: Staff Discussion Notes

Author(s): Francesca Bastagli , David Coady , and Sanjeev Gupta

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 September 2012

DOI: http://dx.doi.org/10.5089/9781475510850.006

ISBN: 9781475510850

Keywords: Taxation, Unemployment, Income distribution, Developed countries, Developing countries, Fiscal consolidation, Government expenditures, Income inequality, fiscal policy, tax and expenditure policy

This note will describe recent trends in income inequality in both advanced and developing economies and how tax and expenditure policies have impacted on these trends. It will discuss how tax and expenditure polic...

Aspectos multilaterales de la gestión de la cuenta de capital

Aspectos multilaterales de la gestión de la cuenta de capital »

Volume/Issue: 2012/10

Series: Staff Discussion Notes

Author(s): Jonathan Ostry , Atish Ghosh , and Anton Korinek

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 September 2012

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781484314647.006

ISBN: 9781484314647

Keywords: Capital flows, Capital controls, Capital account, Emerging markets, aspectos multilaterales, reglas de circulación, afluencia de capitales, mercados de capitales, términos de intercambio, políticas de la cuenta de capital

En la serie de Documentos de Análisis del Personal Técnico del FMI se presentan los últimos análisis e investigaciones sobre políticas elaborados por miembros del personal técnico del FMI, que se publican para reci...

Marcos fiscales para los países ricos en recursos naturales

Marcos fiscales para los países ricos en recursos naturales »

Volume/Issue: 2012/4

Series: Staff Discussion Notes

Author(s): Marcos Poplawski-Ribeiro , Mauricio Villafuerte , Thomas Baunsgaard , and Christine Richmond

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 May 2012

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781498397162.006

ISBN: 9781498397162

Keywords: Natural resources, Developing countries, Fiscal sustainability, hipótesis del ingreso permanente, gestión financiera pública, marco fiscal, reglas fiscales, macro-gestión fiscal, política fiscal, sostenibilidad fiscal a largo plazo

En la serie de Documentos de Análisis del Personal Técnico del FMI se presentan los últimos análisis e investigaciones sobre políticas elaborados por miembros del personal técnico del FMI, que se publican para reci...

La eficacia de los controles de capital y las políticas prudenciales en la gestión de la afluencia masiva de capitales

La eficacia de los controles de capital y las políticas prudenciales en la gestión de la afluencia masiva de capitales »

Volume/Issue: 2011/14

Series: Staff Discussion Notes

Author(s): Karl Habermeier , Annamaria Kokenyne , and Chikako Baba

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 August 2011

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781484334577.006

ISBN: 9781484334577

Keywords: Capital controls, Capital inflows, Exchange rate appreciation, Credit expansion, Macroprudential Policy, Risk management, Emerging markets, Cross country analysis, regulación financiera, políticas macroprudenciales

En la serie de Documentos de Análisis del Personal Técnico del FMI se presentan los últimos análisis e investigaciones sobre políticas elaborados por miembros del personal técnico del FMI, que se publican para reci...

La Desigualdad y el Crecimiento Insostenible Pueden ser dos Caras de la Misma Moneda

La Desigualdad y el Crecimiento Insostenible Pueden ser dos Caras de la Misma Moneda »

Volume/Issue: 2011/8

Series: Staff Discussion Notes

Author(s): Jonathan Ostry , and Andrew Berg

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 April 2011

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781498361682.006

ISBN: 9781498361682

Keywords: Income distribution, Developed countries, Developing countries, Economic growth, Emerging markets, Poverty reduction, crecimiento sostenible, ingreso per cápita, deuda externa, shocks externos

En esta nota se presenta el enfoque del FMI con respecto a una serie de cuestiones relacionadas con la desigualdad, el desempleo, la gestión de gobierno, etc. Se basa en estudios empíricos anteriores que examinan l...

Gestionar la abundancia en América Latina para evitar las crisis

Gestionar la abundancia en América Latina para evitar las crisis »

Volume/Issue: 2011/7

Series: Staff Discussion Notes

Author(s): Martin Kaufman , Steven Phillips , Rodrigo Valdes , and Nicolas Eyzaguirre

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 April 2011

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781498373692.006

ISBN: 9781498373692

Keywords: Capital inflows, Capital controls, Latin America, América Latina, herramientas prudenciales, restricciones a la cuenta de capital, cuentas de capital, flujos de capitales, saldo en cuenta corriente, cuentas corrientes

Los Documentos de Análisis del Personal Técnico del FMI presentan documentos de análisis e investigación sobre políticas que están siendo elaboradas por miembros del personal técnico del FMI. Estos documentos suele...

Gestión de las Afluencias de Capital
			: ¿Qué herramientas corresponde utilizar?

Gestión de las Afluencias de Capital : ¿Qué herramientas corresponde utilizar? »

Volume/Issue: 2011/6

Series: Staff Discussion Notes

Author(s): Jonathan Ostry , Atish Ghosh , Karl Habermeier , Luc Laeven , Marcos Chamon , Mahvash Qureshi , and Annamaria Kokenyne

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 April 2011

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781498329583.006

ISBN: 9781498329583

Keywords: Capital inflows, Capital controls, Debt sustainability, Financial stability, Macroprudential Policy, herramientas prudenciales, sector financiero, encaje legal, flujos de capitales, derivado

En la serie de Documentos de Análisis del Personal Técnico del FMI se presentan los últimos análisis e investigaciones sobre políticas elaborados por miembros del personal técnico del FMI, que se publican para reci...

Filiales o sucursales
			: ¿un modelo de talla único?

Filiales o sucursales : ¿un modelo de talla único? »

Volume/Issue: 2011/4

Series: Staff Discussion Notes

Author(s): Jonathan Fiechter , Inci Ötker , Anna Ilyina , Michael Hsu , Andre Santos , and Jay Surti

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 March 2011

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781484326671.006

ISBN: 9781484326671

Keywords: Financial stability, Bank supervision, Banks, International banking, banca transfronteriza, regulación financiera, filialización independiente, delimitación, modelo basado en filiales, modelo basado en sucursales

En la serie de Documentos de Análisis del Personal Técnico del FMI se presentan los últimos análisis e investigaciones sobre políticas elaborados por miembros del personal técnico del FMI, que se publican para reci...

Suriname
			: Toward Stability and Growth

Suriname : Toward Stability and Growth »

Volume: 09

Series: Departmental Papers / Policy Papers

Author(s): Masahiro Nozaki , Tobias Roy , Pawel Dyczewski , Bernhard Fritz-Krockow , Fanny Torres Gavela , Gamal El-Masry , and Rafael Portillo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 March 2009

DOI: http://dx.doi.org/10.5089/9781589068087.087

ISBN: 9781589068087

Keywords: exchange rate, foreign currency, inflation, foreign exchange, monetary policy

This paper analyzes the economic growth and stability in Suriname. The paper highlights that in recent years, the outlook has turned substantively more positive. The favorable external environment and the stability...

Fiscal Risks
			: Sources, Disclosure, and Management

Fiscal Risks : Sources, Disclosure, and Management »

Series: Departmental Papers / Policy Papers

Author(s): Lusine Lusinyan , Aliona Cebotari , Ricardo Velloso , Jeffrey Davis , Amine Mati , Murray Petrie , and Paolo Mauro

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 January 2009

DOI: http://dx.doi.org/10.5089/9781589067905.087

ISBN: 9781589067905

Keywords: Budgets, Debt sustainability, Government expenditures, Fiscal sustainability, Public debt, Risk management, fiscal risks, contingent liabilities, fiscal risk, fiscal transparency

This paper analyzes the main sources of fiscal risks, including from unexpected changes in macroeconomic variables and banking crises, which can have major consequences for countries fiscal and public debt sustaina...

Policy Issues in the Evolving International Monetary System

Policy Issues in the Evolving International Monetary System »

Series: Occasional Papers

Author(s): Mark Taylor , Peter Isard , Morris Goldstein , and Paul Masson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 1992

DOI: http://dx.doi.org/10.5089/9781557752345.084

ISBN: 9781557752345

Keywords: exchange rate, exchange rates, inflation, monetary fund, monetary union

How can international monetary stability be promoted? This study looks at ways to bolster economic policies and coordination among the industrial countries serving as nominal anchors for the world economy. It also...